Trade Descriptions Act 1972 Uk In Collin
Description
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FAQ
The term trade or business generally includes any activity carried on for the production of income from selling goods or performing services. It is not limited to integrated aggregates of assets, activities, and goodwill that comprise businesses for purposes of certain other provisions of the Internal Revenue Code.
Act aims to promote good trade practices by prohibiting false trade descriptions and false or misleading statements, conducts and practices in relation to the supply of goods and services, thereby protecting the interest of consumers.
Trade shows are “shop windows” where thousands of companies from many countries display their goods and services. They are a marketplace where buyers and sellers can meet with mutual convenience.
In simple terms, trade is basically an exchange, voluntary in nature between two parties in requirement of each other's resources i.e. goods and services. This system is based purely on the concept of need, having a sort of symbiotic relationship in which both benefit each other.
A trade description is a detailed representation of the goods and services offered under the umbrella of a specific trademark. In the context of trademark filing, it is a comprehensive description that goes beyond the broad classification provided by the NICE Classification system.
The Act was designed (like the previous bill) "to make provision about the implementation of international trade agreements; to make provision establishing the Trade Remedies Authority and conferring functions on it; and to make provision about the collection and disclosure of information relating to trade."
